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US crude stocks fall, in first slip since September

Oil

US crude oil inventories dropped by 3.6M bbls w-o-w to total 485.9M bbls in the week ending 4 December, according to the US Energy Information Administration (EIA). This is the first time stocks have fallen since September. US crude imports rose by 274K b/d from the prior week to 8M b/d, the highest since August. US crude runs fell by 151K b/d w-o-w to 16.7M b/d, the first w-o-w decline since October.